Lucasfilm co-chair Kathleen Kennedy will become its president. She will report to Walt Disney Studios Chairman Alan Horn. Lucas will serve as the creative consultant on new "Star Wars" films.

"For the past 35 years, one of my greatest pleasures has been to see 'Star Wars' passed from one generation to the next," George Lucas said in a statement. "It's now time for me to pass 'Star Wars' on to a new generation of filmmakers. I've always believed that 'Star Wars' could live beyond me, and I thought it was important to set up the transition during my lifetime. I'm confident that with Lucasfilm under the leadership of Kathleen Kennedy, and having a new home within the Disney organization, 'Star Wars' will certainly live on and flourish for many generations to come. Disney's reach and experience give Lucasfilm the opportunity to blaze new trails in film, television, interactive media, theme parks, live entertainment, and consumer products."

Lucas' comments are a departure from an interview he gave earlier this year to The New York Times. "Why would I make any more," he said of the "Star Wars" franchise, "when everybody yells at you all the time and says what a terrible person you are?"

No word on the plot for the new film, which follows "Return of the Jedi." Rumors are it will focus on the children of Han Solo and Leia Organa, who will face a new alien threat.

To see what the stars of "Star Wars" look like today, check out our gallery below:

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